Efficient Computer raises $97M Series B, valuing startup at $650M

Efficient Computer Corp. announced it has raised a nearly $100 million Series B fundraising round, valuing the company at $650 million.

The startup was founded in 2023 by a group of researchers, professors and alumni from Carnegie Mellon University. It has developed a general-purpose computer processor that it says ranges from being 10 to 100 times more energy efficient than leading processors on the market. It was named a Startup to Watch by the Business Times in 2024 after raising a $16 million seed round that year.

In August, Efficient quietly filed with the United States Securities and Exchange Commission that it has raised approximately $93 million of a possible $103 million offering. The actual round itself closed at $97 million, bringing its total funding to approximately $173 million.